Friday, November 27, 2020

The Monthly “Digital Master” Book Tuning: Innovate Holistic GRC Nov. 2020

Governance is to frame business management, it should orchestrate change, do it with trust and flexibility.

The important characteristics of digitalization are over-complexity, uncertainty, and ambiguity. Hence, GRC (governance, risk management, and compliance) becomes more critical than ever. Here's the context; how should GRC programs be approached? Should technology be a driver? Can you achieve any level of GRC without automation? Can you achieve any level of GRC without people? What is the real driver of GRC?





Innovate Holistic GRC



Innovate Holistic GRC  The purpose of the GRC (governance, risk management, and compliance) is to improve business performance through the creation of value to stakeholders. GRC discipline is more crucial in today's digital dynamic. One of the problems with views in the enterprise either via management or governance lens today is that they are not holistic. The lack of GRC awareness and holism creates blind spots uncovered, and gaps unfilled.

Insight Upon Governance Governance is to frame business management, it should orchestrate change, do it with trust and flexibility. It’s about how well an organization is being run and if set upright, it should effectively oversee the achievement of the business strategy. How to enforce organizational governance discipline depends on the nature, scale, and complexity of the organization, as well as understanding its risks and conducting. Governance is neither linear nor single dimensional nowadays, it should be understood via multidimensional lens and get enforced holistically.

Understand Governance Complexity & Paradox Governance is by definition a framework of principles, practices and indeed ethics; separate, different and outside the setting and subsequent control of business strategies, budgets, outcomes and metrics. It’s about how well an organization is being run and if set upright, it should effectively oversee the achievement of the business vision, mission, and objectives.

GRC Intelligence and Maturity With overwhelming growth of information and continuous disruptions, the organizational GRC discipline has changed its shape and matured. There is no doubt it will continue to do so as the winds of change in the corporate world blow across the business community. At a higher level, GRC intelligence becomes a strategic imperative for business execution. Because without effective GRC discipline, the business will face significant risk for surviving, and opportunities which it creates cannot be properly transferred into multidimensional business value.

IT GRC Framework and Disciplines Framework means the structural skeleton which defines building blocks and how these blocks relate to each other at the conceptual level; IT plays a critical role in strategy, data/IT governance, and risk management in the digital era. IT governance and risk management must be integrated with overall risk management and governance processes. There are the following components in the GRC framework. 

The “Future of CIO” Blog has reached 3 million page views with about 7300+ blog posting in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom. Blogging is not about writing, but about thinking; it’s not just about WHAT to say, but about WHY to say, and HOW to say it. It reflects the color and shade of your thought patterns, and it indicates the peaks and curves of your thinking waves. Unlike pure entertainment, quality and professional content takes time for digesting, contemplation and engaging, and therefore, it takes time to attract the "hungry minds" and the "deep souls." It’s the journey to amplify your voice, deepen your digital footprints, and match your way for human progression.